Commerce Commission says NZ banking more profitable than in other countries

(Image: Commerce Commission)

Thu, 10 Aug 2023

The Commerce Commission says its initial review of banks found they were more profitable than overseas counterparts and its market study will be focussing on home loans and personal deposit accounts.Commission chair John Small said the preliminary findings “raise questions for us” and the commission wanted to understand whether lack of competition in personal banking was a contributing factor. “This is important in the context of our study as profitability can serve as an indicator of the intensity of competition.”I...

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